Can YouTube save the cinema industry?

The film industry faces a significant challenge: global film revenues are projected at $34 billion, well below the $42 billion recorded in 2019. This worrying trend was highlighted by Maria Rua Aguete, head of media and entertainment at Omdia, during her presentation at FED Spain.

One of the most striking facts Maria presented is that only 44% of YouTube users in the US and Spain go to the cinema. This figure raises a crucial question: Could YouTube content creators help revitalize cinema attendance?

Successful examples already exist. In France, YouTuber Inoxtag's documentary Kaizen was released for free on YouTube, but managed to fill 400 cinemas across the country the next day. In Spain, creator Alec has also managed to attract large crowds to cinemas in Madrid with his content, demonstrating the impact of digital influencers at the box office.

Another revealing fact exposed at the conference is that 57% of YouTube users in the US are subscribed to Netflix, while in Spain the figure reaches 54%. This opens a window of opportunity: could marketing campaigns leverage YouTubers to capture viewers who are not yet engaged with movie theatres?

Netflix has experimented with this strategy in France, collaborating with content creators to promote Squid Game and generating a huge wave of interest. ‘I think the collaboration with YouTube is a must for the future; partnerships are key to attract digital audiences to the cinema’ said Maria Rua Aguete.

The ideas presented at FED Spain suggest that cinema could benefit greatly from incorporating influencers into its marketing strategies. At a time when the industry is looking for ways to win back audiences, YouTubecould be a vital tool in bridging the gap between digital consumption and the big screen experience.

FF